eDelta will close a trade before expiration, when an Early Exit condition is reached. What happens next depends on your instructions.
You can chose to place a new trade and under what conditions. For that you need to use the Re-Entry Panel. Note that each early exit condition has its own Re-Entry panel.
The options available for re-entry are:
Immediately : Place a new trade the same day. The new trade will use the default strategy definition.
Next trading day: Place the new position on the next trading day. Note that for Options that expire on Friday, the next trading day is Monday. Again, the new trade will use the default strategy definition.
At Expiration (Do nothing): eDelta will not place a new trade. The system will revert to its original schedule.
Rolls: See next article for details on all 4 types of rolls .